Blacksburg Town Council introduces $108M budget focusing on economic stability and new initiatives

Blacksburg Town Council has introduced a proposed budget of $108 million for the upcoming fiscal year, marking a 3% increase from the previous year. The budget, which will be available for public review on the town's website and at local libraries, aims to maintain essential services while addressing inflationary pressures.

The general fund, which supports most town services, is set at approximately $53.4 million, reflecting a 4% increase compared to last year. Notably, the property tax rate will remain unchanged at 26 cents, with no reassessment scheduled for this year. Revenue growth is anticipated from new construction and increases in meals, lodging, and sales taxes, driven largely by inflation.

Key initiatives in the budget include funding for affordable housing through waived water and sewer connection fees, contributions to the New River Valley Passenger Rail Authority for a new rail station, and support for a behavioral health co-response program in the police department. The budget also allocates funds for the restoration of the Saint Luca Knott Fellows Hall and upgrades to athletic fields and a skate park.

Personnel costs remain a significant portion of the budget, with planned pay increases for employees and no health insurance cost increases for the third consecutive year. The budget proposes several new positions across various departments to enhance service delivery, including roles in finance, transit, and parks and recreation.

Utility rates are projected to rise by 5% for water and sewer services, reflecting increased operational costs. Solid waste and recycling rates will see a modest increase of approximately 3.7%. A comprehensive rate study is planned to ensure long-term sustainability of utility services.

The council will continue discussions on the budget over the next month, with the aim of finalizing the plan to meet the community's needs while navigating economic challenges.